PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 63.2% in the fourth quarter, Holdings Channel reports. The firm owned 8,249 shares of the company’s stock after selling 14,156 shares during the period. Hodges Capital Management Inc.’s holdings in PepsiCo were worth $1,254,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Resonant Capital Advisors LLC lifted its stake in PepsiCo by 1.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 21,087 shares of the company’s stock valued at $3,230,000 after buying an additional 271 shares in the last quarter. Brentview Investment Management LLC purchased a new position in shares of PepsiCo during the 4th quarter worth $3,357,000. JB Capital LLC grew its stake in shares of PepsiCo by 5.3% in the 4th quarter. JB Capital LLC now owns 63,523 shares of the company’s stock valued at $9,659,000 after buying an additional 3,193 shares during the period. Oregon Pacific Wealth Management LLC acquired a new stake in PepsiCo during the fourth quarter worth $275,000. Finally, KPP Advisory Services LLC lifted its position in PepsiCo by 2.9% in the fourth quarter. KPP Advisory Services LLC now owns 8,149 shares of the company’s stock valued at $1,239,000 after buying an additional 228 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PEP. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $172.00 target price on shares of PepsiCo in a research note on Wednesday, January 29th. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. UBS Group reduced their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Piper Sandler initiated coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Finally, Barclays reduced their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $176.73.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $150.27 on Tuesday. The business has a fifty day simple moving average of $153.12 and a 200-day simple moving average of $164.85. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a market cap of $206.17 billion, a P/E ratio of 22.16, a P/E/G ratio of 2.92 and a beta of 0.54.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.61%. PepsiCo’s dividend payout ratio is presently 79.94%.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.